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Authored by Brent Maier, Kevin Secrist, Nich Palkovic

The fourth quarter continued to present many of the same challenges from earlier in the year as COVID-19 cases surged and businesses and property sectors continued to be affected disparately. Nonetheless, the quarter also answered some questions with the introduction of the COVID-19 vaccination, the resolution of the U.S. presidential election with President Joe Biden’s victory and a second wave of government stimulus. The general takeaways of the quarter were increasing confidence for businesses and investors as evidenced by surging transaction activity, increasing equity values and a stabilizing employment environment. There is optimism that the vaccinations and second round of stimulus will be the final bridge to a return to some semblance of normalcy in 2021 and market participants have deployed capital and behaved accordingly.

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